Paraguay
Trade Policy Review: Paraguay 2011
“Trade Policy Reviews” analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat, a report by the government, and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - “key trade facts” - provides a visual overview of the WTO member’s major exports/imports, main export destinations, origins for its imports and other key data. This edition looks into the trade practices of Paraguay.
Trade Policy Review: Paraguay 2017
"Trade Policy Reviews" analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat, a report by the government, and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - "key trade facts" - provides a visual overview of the WTO member's major exports/imports, main export destinations, origins for its imports and other key data. This edition looks into the trade practices of Paraguay.
Concluding Remarks by the Chairperson of the Trade Policy Review Body, H.E. Mr Mario Matus at the Trade Policy Review of Paraguay 27 and 29 April 2011
This third Trade Policy Review of Paraguay has provided an opportunity for us to improve our understanding of recent developments in its trade and trade-related policies, and the areas where there is room for improvement. We are thankful for the active participation of the Paraguayan delegation, headed by Ambassador Manuel María Cáceres, Vice-Minister of Economic Relations and Integration at the Ministry of Foreign Affairs; our thanks also extend to Ambassador Federico González, Permanent Representative of Paraguay in Geneva, and to the rest of the Paraguayan delegation. Our discussions have also benefited from the insightful remarks of our discussant, Ambassador Fernando de Mateo, and many interventions by Members. The answers provided by the Paraguayan authorities to the questions submitted in advance were very much appreciated.
Preface
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT CONTRACTING PARTIES in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.
Report by Paraguay
The economic context over the last five years has been more propitious for Paraguay than during the previous five year period. Developments not only within the country but also regionally and at the world level spurred the recovery of its economy at a much faster pace than initially foreseen. This was particularly true in 2010, when excellent performance in agricultural production went hand in hand with sound macroeconomic fundamentals, favourable external financing conditions and strong export earnings, particularly from soya beans and beef.
Report by the WTO Secretariat
Paraguay has a very open trade and investment regime. Applied MFN tariffs are relatively low (8.5 per cent on average) and there is little recourse to non-tariff measures. The aim of Paraguay’s medium-term trade strategy is to boost the role of international trade as an engine for economic growth and to diversify its export base, which remains focused on a few agricultural products and on a small number of markets. Paraguay is also seeking to enhance the business climate so as to attract larger flows of foreign investment and thus foster economic growth and employment.
Report by Paraguay
During the period covered by this fourth review of Paraguay’s trade policy, the global economy has grown steadily with significant effects on international trade. The main features of world economic developments were major volatility on financial markets, uncertainty over international commodity prices, and the resurgence of protectionist measures.
Concluding remarks by the Chairperson of the Trade Policy Review Body, H.E. Mr. Juan Carlos González at the Trade Policy Review of Paraguay, 20 and 22 September 2017
This fourth Trade Policy Review has provided us with the opportunity to deepen our understanding of Paraguay’s trade and investment policies, and in particular, of the several reforms and changes introduced since the last Review in 2011. I would like to thank the Paraguayan delegation led by Ambassador Luis Fernando Ávalos, Vice-Minister of Foreign Affairs and Integration, for their constructive engagement throughout this exercise. I would also like to thank our discussant, Ambassador Héctor Casanueva of Chile, for his interesting and thought-provoking remarks, as well as the 27 delegations which have taken the floor the first day, for their active participation in this review.
Introduction
The Trade Policy Review Mechanism (TPRM) was first established on a trial basis by the GATT contracting parties in April 1989. The Mechanism became a permanent feature of the World Trade Organization under the Marrakesh Agreement which established the WTO in January 1995.
Report by the WTO Secretariat
Since the last review of Paraguay in 2011, the country’s economy has performed robustly. Real gross domestic product (GDP) grew at an average annual rate of 4.7% between 2011 and 2016, underpinned by a stable macroeconomic environment which not only favoured growth and held down inflation expectations, but also made it easier for Paraguay to access international financing at a moderate cost. The most vigorous economic sectors during 2011-2016 were financial services, construction, general government and the agricultural sector, which is the main source of exports. The unemployment rate remained moderate during the review period, generally fluctuating between 5% and 6%.
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